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BANK HOLDING COMPANY LEGISLATION
AND RELATED ISSUES
SUBCOMMITTEE ON FINANCIAL INSTITUTIONS SUPERVISION, REGULATION AND INSURANCE
COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS
HOUSE OF REPRESENTATIVES
MERGER ACT TO RESTRICT THE AC
TION OF BANKS BY BANK HOLDING HOLDING COMPANIES AND THEIR
COMPANIES AND OTHER BANKS.
A BILL TO AMEND THE BANK HOLD.
ING COMPANY ACT OF 1956 TO PROA BILL TO AMEND THE BANK HOLD
VIDE THAT THE BOARD OF GOV. ING COMPANY ACT AND THE BANK ERNORS OF THE FEDERAL RESERVE MERGER ACT TO RESTRICT THE AC SYSTEM SHALL NOT DENY ANY APPLI. TIVITIES IN WHICH REGISTERED CATION FOR THE FORMATION OF A BANK HOLDING COMPANIES MAY EN.
ONE-BANK HOLDING COMPANY BEGAGE AND TO CONTROL THE ACQUISI. CAUSE THE TRANSACTION TO FORM TION OF BANKS BY BANK HOLDING SUCH ONE-BANK HOLDING COMPANY COMPANIES.
INVOLVES А BANK STOCK LOAN H.R. 2856
WHICH IS FOR A PERIOD OF NOT A BILL TO AMEND THE BANK HOLD- MORE THAN TWENTY-FIVE YEARS, ING COMPANY ACT AND THE BANK AND FOR OTHER PURPOSES.
Serial No. 96-49
Printed for the use of the
U.S. GOVERNMENT PRINTING OFFICE
COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS
HENRY S. REUSS, Wisconsin, Chairman THOMAS L. ASHLEY, Ohio
J. WILLIAM STANTON, Ohio WILLIAM S. MOORHEAD, Pennsylvania CHALMERS P. WYLIE, Ohio FERNAND J. ST GERMAIN, Rhode Island STEWART B. MCKINNEY, Connecticut HENRY B. GONZALEZ, Texas
GEORGE HANSEN, Idaho JOSEPH G. MINISH, New Jersey
HENRY J. HYDE, Illinois FRANK ANNUNZIO, Illinois
RICHARD KELLY, Florida JAMES M. HANLEY, New York
JIM LEACH, Iowa PARREN J. MITCHELL. Maryland
THOMAS B. EVANS, JR., Delaware WALTER E. FAUNTROY,
S. WILLIAM GREEX, New York District of Columbia
RON PAUL, Texas STEPHEN L NEAL, North Carolina
ED BETHUNE, Arkansas JERRY M. PATTERSON, California
NORMAN D. SHUMWAY. California JAMES J. BLANCHARD, Michigan
CARROLL A. CAMPBELL, JR., CARROLL HUBBARD, JR., Kentucky
DOX RITTER, Pennsylvania
PAUL NELSON, Clerk and staf Director
SUBCOMMITTEE ON FINANCIAL INSTITUTIONS SUPERVISION, REGULATION
CHALMERS P. WYLIE, Ohio
HENRY J HYDE, Ilinois CARROLL HUBBARD JR. Kentucky GEORGE HANSEN, Idaho JERRY M. PATTERSON Ca'ifornia
JIM LEACH, Iowa
CARROLL A CAMPBELL, JR.,
ED BETHL'SE, Arkansas
District of Columbia
RICHARD I. STILL, Subcommittee Staf Director
Arnold, Alan C., executive vice president, Howard, Weil, Labouisse, Fried-
richs, Inc., New Orleans, La--
sion, Underwood Neuhaus & Co., Inc., Houston, Tex----
Browne, Donald T., vice president, First National Holding Corp., Atlanta,
Ga., on behalf of the Association of Bank Holding Companies, accom-
Finance Association, and president, Financeamerica Corp., accompanied
search associate, National Bureau of Economic Research.-
Carder, James, director, division of accounting, department of administra
tion, Jefferson City, Mo.; on behalf of the National Governors Associa
tion Carswell, Hon. Robert, Deputy Secretary of the TreasuryCrandall, Richard L., president, Comshare, Inc., on behalf of the Associa
tion of Data Processing Service Organizations, Inc., accompanied by Jerome L. Dreyer, executive vice president, and P. Michael Nugent,
staff attorney-Davis, Irvin R., director of finance, Philadelphia, Pa., accompanied by
Robert L. Greenberg, first deputy director of finance and acting city
treasurer Donahue, John F., Jr., Chairman of the Board, A. G. Becker, Inc., accom
panied by Richard C. Yancey, managing director, Dillon Read & Co.,
Inc.; on behalf of Securities Industry Association..
Industry Association ----
member of the Governing Council of the American Bankers Association.Fugate, Ivan D.. chairman, Federal Legislation Committee, Independent
Bankers Association of America, and chairman of the Board and presi-
son, Swanson & Barbee, Dallas, Tex..
of New YorkGonzalez, Hon. Henry B., a Representative in Congress from the State
National Bank, Columbia, S.C.---
League of Cities..
ence of Mayors.
Hodgkins, Ralph L., Jr., president and chief executive officer, Mid-Maine
Mutual Savings Bank, Auburn, Maine, on behalf of the National Asso-
Butera, associate director...
Charlotte, NC., and president-elect, American Bankers Association; and
Lee E. Gunderson, president, Bank of Osceola Osceola, Wis.----
and director, Center for Capital Market Research, I'niversity of Oregon.Kauper, Thomas E., professor of law, I'niversity of Michigan School of
Insurance Agents of America (ITAA), arrompanied by Thomas E. Wilson,
and Dr. Emmett J. Vaughan, consultant to ITAA
715 669 1176
Miller, John C. H., Jr., attorney at law, and director of Exchange National
Bank of Birmingham, Ala.
Houston, Houston, Tex---
Business, University of Chicago..
by Charles Greenberg--
serve System -Payne, Carl, executive director, Pennsylvania Housing Finance Agency Perko, James, Washington Public Power Supply System, Richland, Wash.,
on behalf of the American Public Power Association.Peterson, John.-Phillips, Dr. Almarin, professor of economics, law, and public policy, Uni
versity of Pennsylvania---
Inc., Atlanta, Ga---
Municipal Finance Officers Association and the Association of State Audi
tors, Comptrollers, and Treasurers_ Robinson, E. B., Jr., president, Dealer Bank Association, and executive vice
president, Deposit Guaranty National Bank, Jackson, Miss., accompanied
by Dick Kezer, senior vice president, Citibank, New York, NY.Senterfitt, Donald T., attorney at law and chairman of the executive com
mittee, Sun Banks of Florida, Orlando, Fla-----
Co., St. Paul, Minn.--
Los Angeles, Calif., on behalf of Consumer Bankers Association...
tion of Realtors, accompanied by Albert E. Abrahams, senior vice presi
dent, Government Affairs--
Securities Industry Association--
ADDITIONAL MATERIAL SUBMITTED FOR INCLUSION IN THE RECORD
Akin, Edward H., prepared statement on behalf of the National Association
of Professional Insurance Agents (PIA) -
ment on H.R. 1539_,
H.R. 2856 (St Germain bill). Section-by-section analysis of H.R. 2747"The Role of Insurance on Bank Holding Company Activities," position
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